Correction "you MAY be spared as FC" but don't expect it.
However you can get ISKies.
Seems fair, the only problem is wen the FC is the only guy actually using coms, which happens so often, at least that's the experience i have.
The first time i decided to give it a go FCing i went for 3 rounds of t1 frigs and i got primary right away in the first 2 rounds wen i was the only one in coms able to call anything, needless to explain how that ended. FC is NOT a solo task! A good fleet will have FC, XO (executioner/officer or backup FC that helps managing fleet, broadcast targets, help on preventing "tunnel vision FCing", etc) a backup FC in case of the other 2 fall and at least 2/3 skirmishers/chasers (experienced pilots that scout and hold targets).
Fleet is all about team work, sometimes i get the feeling ppl are just waiting for 1 guy to stand up and say all they have to do, basically pilot for them, that's not a reasonable expectation. That's one of the reasons it's been frustrating to me watch the continuous migration of pilots.
Also in line with the #3 Miner's Bane point, ppl need to be more conscience about their behaviour because wining fights back to back, outnumbering, outshiping or blobing the enemy only leads to target scatter and reduction, i'm growing tired of engaging fights i now for a fact are not a "gf", lets careless about "stats" and more about having fun.